200 Mil Réis State Bonus, Series F

Rio Grande do Sul's state treasury issued these "bônus" during the 1930s as a regional fiscal instrument — not banknotes in the strict sense, but obligations backed by state revenue, circulating locally as a practical substitute for scarce federal currency during a period when Getúlio Vargas's centralizing government was steadily dismantling the financial autonomy that southern states had exercised under the Old Republic.

Lithografia da Livraria do Globo was Porto Alegre's most capable commercial printer, but it was not a security printing house. The absence of intaglio work made these notes relatively easy to counterfeit, a known vulnerability of the entire series.